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Cisco CEO Chambers’ pay drops 9% to $11.7 million

Cisco CEO John Chambers received a $4 million cash bonus in fiscal 2012, but it wasn’t enough to offset a 41% decline in stock awards. His total compensation, valued at $11.7 million, is down 9% compared to 2011, when his pay package was worth $12.9 million.

In addition to the $4 million performance-based bonus, Chambers received a $375,000 salary and stock awards valued at $7.3 million in the 2012 fiscal year, which ended July 28. In 2011, he netted $12.5 million in stock awards but he didn’t receive any cash bonus, according to a filing with the U.S. Securities and Exchange Commission.

Chambers’ 2012 salary is the same amount he received a year earlier, but he’s getting a big increase: Cisco’s compensation committee approved a nearly threefold salary hike to $1.1 million for Chambers in the 2013 fiscal year, underway now.

On the perks front, Chambers received $11,025 in company contributions to his 401(k) plan in 2012. The company also reimbursed Chambers $2.1 million for business travel expenses related to the use of a private plane for Cisco business. (The $2.1 million reimbursement is not included in Chambers’ 2012 compensation tally.)

Total pay for Chambers is calculated using data supplied in a proxy statement filed with the SEC on Sept. 26. The following figures are taken from the summary compensation table: salary, stock awards, non-equity incentive place compensation (performance-based cash bonus), and all other compensation.

The estimated value of equity awards represents the grant date fair value for stock awards and stock options granted during the fiscal year.

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